Turbine Control System: Global Market Report 2018-2023 - Significant Demand Growth Expected for Industrial Crops

DUBLIN, April 13, 2018 /PRNewswire/ --

The "Turbine Control System Market by Component (Sensors, HMI, Controllers, Software), Type (Steam, Gas), Function (Speed Control, Load Control, Temperature Control, Pressure Control), and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.

The global turbine control system market is estimated at USD 15.13 billion in 2018 and is projected to grow at a CAGR of 4.66% to reach USD 19 billion by 2023.

The global market is likely to grow significantly due to increasing conventional power generation in developed countries and due to the demand for the operational productivity of turbines. Although some cost bearing constraints in the installation of turbine control systems are being observed, increase in wind power generation is expected to create better opportunities for the turbine control system market. Depleting fossil reserves are expected to be major challenges for the growth in the turbine control system market.

With regards to the type segment, the steam turbine control system segment is expected to constitute the largest market by 2023. The increasing capacity of coal-based thermal power plants in Asia Pacific, and a large share of diesel-based, and oil-based power generation is driving the market for a steam turbine control system in the turbine control system market.

North America is expected to be the fastest growing market for turbine control systems from 2018 to 2023. This region is undergoing various project development to maintain the demand-supply balance. The US, which is one of the largest revenue contributors to the region. The country is expected to develop innovative technologies for advanced gas turbine components. Increase in investment and continue governmental investments in the economic and infrastructure growth are expected to boost the turbine control systems market in the region

Some of the prominent players in the power quality equipment market include GE (US), Siemens (Germany), ABB (Switzerland), Emerson (US), and Rockwell (US).

Market Dynamics

Drivers

• Need For Increase Of Yield In Crops
• Growth In Demand For High-Value Crops Such As Fruits & Vegetables

Restraints

• Limited Product Availability
• Increase In Prevalence Of Counterfeit Products

Opportunities

• Site-Specific Nutrient Management Through Precision Agriculture
• Increase In Investment In Agricultural Operations In Developing Countries
• Significant Demand Growth Expected For Industrial Crops

Challenges

• Lack Of Awareness About The Product
• Increase In Shift In Regulatory Frameworks Toward Environment-Friendly Practices

Key Topics Covered:

1. Introduction

2. Research Methodology

3. Executive Summary

4. Premium Insights

5. Market Overview

6. Industry Trends

7. Secondary Macronutrients Market, by Nutrient

8. Secondary Macronutrients Market, by Formulation

9. Secondary Macronutrients Market, by Application Method

10. Secondary Macronutrients Market, by Crop Type

11. Secondary Macronutrients Market, by Region

12. Competitive Landscape

13. Company Profiles

• Coromandel International
• Deepak Fertilisers and Petrochemicals
• Haifa Chemicals
• Israel Chemicals Ltd.
• K+S
• Koch Industries
• Kugler Company
• Nufarm
• Nutrien
• Sapec Agro Business
• The Mosaic Company
• Yara International

For more information about this report visit https://www.researchandmarkets.com/research/v2szf5/turbine_control?w=5

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SOURCE Research and Markets

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